Houlihan Lokey Advises Five Arrows and Deutsche Beteiligungs AG on Their Investment in Totalmobile

Houlihan Lokey is pleased to announce that Five Arrows, the alternative assets arm of Rothschild & Co., and funds managed by Deutsche Beteiligungs AG (DBAG) have agreed to invest in Totalmobile, supporting its next phase of growth. The transaction is subject to regulatory approval.

Five Arrows is a globally diversified group of investors comprising institutions, corporations, international family offices, and entrepreneurs from Europe, North America, and Asia who invest alongside the firm, its partners, and the team. Five Arrows manages a series of funds dedicated to corporate and secondary private equity, multi-manager funds, and co-investments, as well as broadly syndicated loans and direct lending.

Listed since 1985, DBAG is one of the most renowned private equity firms in Germany. DBAG traditionally focuses on middle-market companies in Germany, Austria, and Switzerland, particularly well-positioned companies offering growth potential.

Headquartered in Belfast, Ireland, with more than 400 employees worldwide, Totalmobile is a multi-award-winning global leader in field service management (FSM) software. Its innovative Field First platform helps more than 1,000 organisations and 500,000 workers across the U.K., Ireland, the Nordics, and Australasia to deliver essential frontline services more efficiently. Totalmobile has earned recognition as one of Deloitte’s Best Managed Companies and ranked No. 44 in TechRound’s 2025 SaaS66 list of the world’s most exciting tech companies.

Totalmobile strengthened its position in the fire and rescue rostering arena with the acquisition of Gartan Technologies, achieved strong organic growth in existing markets, and extended into new sectors. Revenues for the business have risen year-on-year, reaching £58 million in FY2024 with strong growth continuing through FY2025, demonstrating an ongoing demand for Totalmobile’s software solutions. The investment will enable the business to accelerate innovation, continue its international expansion, and deliver even greater value to its customers worldwide.

Phil Race, Chief Executive Officer of Totalmobile, said, “This investment from Five Arrows and DBAG marks the start of an exciting new chapter for Totalmobile.” He added, “We now have the opportunity to establish ourselves as the true global leader in field service management software.”

Sacha Oshry, Partner at Five Arrows, said of Totalmobile, “We see in the business a rare combination of strong technology, deep vertical expertise, and long-standing entrenched customer relationships.” He added, “Totalmobile’s people, technology and service provision means it is ideally positioned to capitalise on the many opportunities ahead, in partnership with Five Arrows and DBAG.”

Houlihan Lokey served as the buyside financial advisor to Five Arrows and DBAG, leveraging long-standing relationships with both sponsors. This further solidifies Houlihan Lokey’s position as one of the leading financial advisors in the FSM software space, following the firm’s role as buyside financial advisor on the investment in Joblogic in September 2025.

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